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Lighting as a service (LaaS) Market substantial rise in industrial sectors to offer growth prospects by 2027 scrutinized in new research

IT background

Lighting as a service (LaaS) is an all-inclusive subscription based pricing model geared at making LED lighting a potential option for any facility manager, business owner, or service manager. LaaS as the third-party management of a lighting system, includes additional maintenance, technical, financial, or operational services. This business model has become more common in commercial and citywide installations of LED lights, specifically in retrofitting buildings and outdoor facilities, with the aim of reducing installation costs.

Market Dynamics
The Lighting as a service market is anticipated to grow owing to driving factors such as improved financial benefits and government policies & regulations for adoption of energy-efficient lighting systems. Moreover, the factors such as convergence of IoT with lighting systems and development of smart cities are expected to propel the market growth in the coming years. However, lack of awareness about the value of a service oriented model of lighting is expected to hinder Lighting as a service market growth.

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Key Benefits-

  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Lighting-as-a-service Market
  • To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

Market Scope
The "Global Lighting-as-a-service Market Analysis to 2027" is a specialized and in-depth study of the Lighting-as-a-service industry with a special focus on the global market trend analysis.

The report aims to provide an overview of Lighting-as-a-service market with detailed market segmentation by component, installation, end-user, and geography. The global Lighting-as-a-service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Lighting-as-a-service market players and offers key trends and opportunities in the market.

Top Key Players profiled in this report includes, Cree Inc., Eaton Corporation plc, Future Energy Solutions, Igor Inc., Itelecom USA, Koninklijke Philips N.V., Lunera Lighting, RCG Lighthouse, SIB Lighting, Zumtobel Group AG.

Market Segmentation
The global Lighting-as-a-service market is segmented on the basis of component, installation, and end-user. Based on component, the market is segmented as luminaries & control equipment, software's & communication systems, and maintenance & other services. Further, based on installation, the market is divided into indoor and outdoor. Furthermore, on basis of end-user, market is segmented as office, retail, education, healthcare, hotels & restaurants, institutional/assembly, warehouse, and transport.

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Reasons to Access the Report:

  • Learn about the driving factors, affecting the market growth.
  • Imbibe the advancements and progress in the market during the forecast period.
  • Understand where the market opportunities lies.
  • Compare and evaluate various options affecting the market.
  • Pick up on the leading market players within the market.
  • Envision the restrictions and restrains that are likely to hamper the market.

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